Panama and China initiated free trade talks in the beginning of the week, aiming to establish an agreement that could make Panama a hub for Chinese goods across Latin America.
As Panama’s Minister for Trade and Industry Augusto Arosemena informed, this is the first round of talks. This round will last until July 13, and will set the basis for the rest of the negotiation. A second round of trade talks is expected to during in August, Reuters reported.
[smlsubform prepend=”GET THE SAFETY4SEA IN YOUR INBOX!” showname=false emailtxt=”” emailholder=”Enter your email address” showsubmit=true submittxt=”Submit” jsthanks=false thankyou=”Thank you for subscribing to our mailing list”]
Panama tries to seal this deal with China as more investment from the Asian country, will enable Panama to be part every of these products and investment for the whole region.
China’s ambassador to Panama, Wei Qiang confirmed this, as he noted that Panama could indeed be turned into a hub for Chinese firms, especially in in manufacturing.
The trade talks come after Panama established diplomatic ties with China in 2017, while a possible agreement will include about 20 chapters.
Since the beginning of Panama’s diplomatic relation with China, the two countries have signed approximately 20 agreements and established direct flights between them.
